Bitcoin Price Found a New Support: Crypto Analyst Josh Rager

Libra Coin News
Tue, 10/08/2019 - 10:58
Denis Sinyavskiy
After yesterday's growth in the cryptocurrency market, popular crypto analyst and trader Josh Rager gave his forecast for the price of Bitcoin.
Cover image via www.123rf.com

Yesterday was marked by the growth of the cryptocurrency market, Bitcoin also added more than three per cent in price. The popular trader and analyst Josh Rager shared his thoughts about the events and gave his forecast for the near future on his Twitter account.

A new support level

Rager believes that Bitcoin's attempt to gain a foothold above the highest volume area in today's range is very important. Thus, cryptocurrency received a new level of support. The next resistance, according to technical analysis, will be the mark of $8380, but the price can easily break through $8500 and go even higher.

More thoughts from analyst

Popular CNBC analyst Big Cheds has a similar opinion, in the near future he expects bearish sentiment in the market, but in the medium term, the upward trend will continue.

Regarding the general situation, the analyst said the following:

“There is support here from July 2018 as well as May 2019, so it is not unlikely that we will see a short-term bounce. In addition, there is a hidden bullish divergence with OBV’s lower low versus price, suggesting bullish continuation.”

About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.


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